Piggyback loans are alive and well and we offer them here at Annie Mac Home Mortgage in Waltham. We also offer other PMI alternative solutions if you're interested in them too.
Please tell me something though. What about the 80-10-10 option is appealing to you? The reason I ask is because the piggyback loan evolved as a PMI alternative before PMI became tax deductible (beginning December 2007). For many homeowners the PMI is now FULLY tax deductible and this has made the piggyback option less popular these days. These days traditional PMI typically provides the best monthly savings AND tax benefits. The government finally got this one right.
Everyone's situation and goals are unique though. Please give me a call @ 781-258-1293 when you're free. We can run some numbers and see which option will work best for you. We have great programs and rates and I'm local and can meet with you in person. No cost and no obligation.
(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.)